If expected inflation rises, the long-run Phillips curve will
A) become negatively sloped. B) shift to the left.
C) shift to the right. D) not be affected.
D
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A price-discriminating monopolist will tend to charge a higher price to senior citizens if it believes that senior citizens: a. have a lower willingness to pay than other demanders. b. have a greater willingness to pay than other demanders. c. have very elastic demand curves
d. have horizontal demand curves.
If we look at the equation for money demand from Irving Fisher, which of the following statements is true?
A. Money demand is not a factor of nominal income B. The price level does not impact money demand C. There isn't an explicit role for the interest rate in the equation D. Velocity does not play any role in the equation
If the price elasticity of demand for a good is 5, then a 10 percent increase in price results in a
a. 0.5 percent decrease in the quantity demanded. b. 2 percent decrease in the quantity demanded. c. 5 percent decrease in the quantity demanded. d. 50 percent decrease in the quantity demanded.
Which of the following equations is correct?
A) assets = liabilities ? net worth B) assets = liabilities + net worth C) liabilities = assets + net worth D) net worth = liabilities + assets